What happens if two wage garnishments are put on your paycheck?

If you're facing simultaneous wage garnishments, it could have an outsized impact on your financial health. Ahmad Bilal/ Millions of borrowers were already struggling to make even the minimum payments on their credit cards or loan payments in today's tough economic landscape, and it may soon be even harder to keep up. Case in point? The inflation rate ticked up again last month, climbing from 3.3% to 3.8% from March to April — the highest rate in three years. That uptick, which has been driven, in part, by the conflict in Iran, pushed up energy costs and drove up prices on everything from gasoline to groceries. And it's having a detrimental impact on Americans' budgets, particularly for borrowers whose debts are compounding as prices rise. But while late payments have become a more common issue recently, they also come with hefty penalties for borrowers. A single late credit card can lead to late fees and steeper interest charges . The longer those bills go unpaid, the more serious the outcome can be. After all, creditors can use tools like lawsuits, bank levies and wage garnishments to recoup what you owe. If a debt collector reaches directly into your paycheck to garnish a portion of your income , it can have a major impact on your budget and make it tough to cover just the basics, like rent and utilities, much less your other debt payments. If you fall behind on multiple debts, though, you could even end up with two wage garnishments tied to your paycheck. …